Gregg Co. property values drop

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Longview, TX — Gregg County taxing entities will need to raise taxes to match this year’s local revenue if the downward direction of property values holds to certification in mid-summer.

But the drop in values for each of the county’s 19 schools, cities and other taxing entities probably won’t be as severe when they reach certification by July 20.

“They usually go up before they issue the final numbers,” County Tax Assessor/Collector Kirk Shields said Wednesday. “The appraisal district makes a conservative estimate.”

The Gregg County Appraisal District mailed each entity its preliminary estimated values for the coming tax year Friday. The final values provide the panels of elected officials a basis for tax rates they will set this summer.

Property in all categories in Gregg County is estimated at $8.22 billion. That’s more than 3.8 percent lower than the 2013 certified value of $8.55 billion.

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